EUR/USD Update – 10/08/2017 (11:25am) – by Arjun Lakhanpal

EUR/USD Update – 10/08/2017 (11:25am): A volatile day for EURUSD yesterday which tested briefly below key 1.1715 support with stop loss driven action printing a low of 1.16885.  Feels to me like this was more risk reduction on favoured EUR long trades than out and out risk aversion due to developments in the US and N.Korea although the market will watch developments there closely.  Outside of geopolitical developments the market focus remains on Fridays CPI print in the US.  Support comes in 1.1685 ahead of 1.1615 which was a key breakout level for EURUSD.  Resistance comes in 1.1770 initially ahead of 1.1825.